AUSTIN – The number of apartments on five acres in southeast Austin’s Riverside neighborhood will nearly triple after rezoning of 1900 Burton Dr.
The rezoning enables the owner of Flats on Burton LLC to redevelop the existing 134-unit Easton Hills apartments into a vertical mixed-use complex with 385 multifamily units and 9,000 sf of office and retail space.
In exchange for the increased density, the developer has the option of providing on-site affordable housing or paying a fee in lieu of doing so. In this case, at least 10 percent of the new residential rental units need to be dedicated for households earning under 80 percent of the region’s MFI to be considered affordable housing.
The property is currently valued at $12.3 million.